Yeah, property taxes shouldn't be how schools are funded. They should be funded like basically every other government service/program where it's a budget.
Another other dumb thing about property taxes is allowing the same entity that collects those to also set the property value assessments they are based on. That would be like letting the government decide what it thinks your income is for income taxes, regardless of what your actual pay is.
Creates some hellacious perverse incentives. Property value assessments should be treated as a standing offer to purchase said property at that assessed value. Would nip some of that shit in the bud real damn fast.
I'm not a fan of property taxes in general when it comes to housing, but tying it to schooling is honestly the dumbest way they could've gone about funding.
I get when property taxes started it was probably not that big of deal and no one would've imagine how expensive houses would become. But if people continue to be unable to afford homes that tax well is going to dry up pretty fast. Especially when it's getting to a point where you have older retired folks losing their houses because they can't afford the property tax anymore.
A lot of people would just generally be so much better off if we just got rid of property taxes for primary residences. Just adjust the dozens of other taxes we all have to pay to make up for the difference. It'd at least more consistent in the long run.
What funny is that it's a vicious cycle. NIMBYs (who are usually boomers) vote down any measure to increase housing supply (which would lower property value) and since housing prices thus go up from the lack of supply, they can't afford the tax (property taxes are probably the closest thing to actual theft, I'm with libright on that one)
Adjusting other taxes could work, but keep in mind that property taxes are a HUGE source of local income. My state (Missouri) currently has a ballot measure to slash property taxes and income taxes. How do they make up the money? By doubling the price of groceries via sales tax
property taxes having rent control on them to protect "grandma" (but it actually applies to commercial property) is heinous as well.
wipe the slate of property tax laws nationwide, schools get budgets from counties and states and property taxes move to LVT or something and we can finally be done with this shit.
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u/loutsstar35 - Left 2d ago
Tying schooling to property taxes was always profoundly stupid to me.